Donald Trump announced the launch of his social network and proclaimed the name of the platform.

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source: www.cnbc.com

The former president announced that he also intends to launch a video-on-demand service that will show entertainment programs.

Former United States President Donald Trump announced on Wednesday his plans to launch his social network in his most recent attempt to recover space on the internet after being banned from Twitter and Facebook due to the violent attack by his followers against the Capitol.

"TRUTH Social" will be owned by Trump Media & Technology Group (TMTG) and is expected to launch in beta for "guests" next month. It is now available for pre-order on Apple's App Store, the group said in a statement.

TMTG also plans to launch a video-on-demand service that will show "no-woke" entertainment shows and will be directed by Scott St. John, executive producer of the shows "Deal Or No Deal" and "America's Got Talent."

Originating in the United States, the term 'woke' refers to being aware of social inequality related to race, gender, and sexual orientation.

"I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech," said in the newsletter Trump, banned from Twitter and Facebook for inciting the attack on the Capitol by his followers on January 6.

"We live in a world where the Taliban have a significant presence on Twitter, yet their favorite American president has been silenced. It is unacceptable, "said the former president.

According to the bulletin, the Trump Media & Technology group will merge with Digital World Acquisition Corp (DWAC) to make TMTG a publicly-traded company.

"The transaction values ​​the Trump Media & Technology group initially at $ 875 million, with a possible additional gain of 825 million in supplemental shares (at whatever value is awarded) for a cumulative valuation of up to $ 1.7 billion based on developments of the price of the shares after the business combination," the statement said.

"Given the total market to which it can be addressed and the large number of followers that President Trump has, we believe that TMTG has the potential to create significant value for shareholders," Patrick Orlando, head of DWAC, added in the text.

FREEDOM OF EXPRESSION

For years, Trump, who used Twitter as a rhetorical weapon during his presidency, has battled tech giants who, he assures, have unfairly censored him.

The battle for freedom of expression escalated when Facebook, Twitter, Instagram, and the rest of the world's largest social media platforms vetoed him as punishment for stirring up the crowd that entered Congress in January of this year.

Since then, Trump has been looking for a way to get his megaphone back, filing various lawsuits against big tech platforms.

In May, he launched a blog called "From the Desk of Donald J. Trump," touted as a major media outlet, but took it off the internet just a month later.

Former Trump aide Jason Miller launched a social network called Gettr this year. The former president has yet to participate. Shortly after the announcement about the launch of TRUTH Social, Miller congratulated Trump for "getting back into the social media fight."

"Now Facebook and Twitter will lose even more market," he said in a statement published by Gettr.

Facebook definitively vetoed Trump on January 7 for his inflammatory comments that preceded the uprising on Capitol Hill, later reducing the ban to two years.

Twitter quickly followed suit, permanently suspending Trump's account - which had more than 88 million followers - at the "risk that he will continue to incite violence."

Trump began holding public events, including campaign rallies, seeking to remain the most influential Republican leader in the country. He has hinted at a possible presidential bid for 2024 but has not made any announcements about his political future.